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Shipping Industry News
Agri Port is your go-to source for the latest local and global industry news relevant to the shipping and grain vessel loading industry. Stay up-to-date with current events, new regulations, best practices, and essential industry updates that impact your operations.
From
Reuters
via
gCaptain
Hapag-Lloyd Faces $40 Million to $50 Million Weekly Costs Due to Middle East Conflict
German shipping company Hapag-Lloyd HLAG.DE is incurring additional costs of $40 million to $50 million per week due to the ongoing conflict in the Middle East, a burden described as "not sustainable for a long time" by Chief Executive Rolf Habben Jansen on Thursday. Speaking at an online press conference, Habben Jansen said the company was grappling with "a big challenge" as six of its vessels, with 150 crew members, remain stranded in the Persian Gulf.
From
Malte Humpert
via
gCaptain
U.S. Coast Guard Announces Plans to Acquire Up to Seven New Light Icebreakers
The U.S. Coast Guard has issued a request for information (RFI) as it moves forward with plans to acquire up to seven new light icebreakers to replace an aging fleet and ensure year-round navigation in ice-prone waterways across the Northeast and Great Lakes.
From
Mike Schuler
via
gCaptain
UK Clears Military to Board Russian Shadow Fleet Tankers in Channel
The United Kingdom is stepping up its campaign against Russia’s so-called “shadow fleet,” authorizing military and law enforcement teams to board sanctioned vessels transiting British waters—including the English Channel—in a...
From
Mike Schuler
via
gCaptain
Jones Act Waiver Leaves Key Question Unanswered: What Laws Apply to Foreign Ships in U.S. Trade?
Legal Gray Zone Emerges as Foreign Ships Enter Domestic Trades Under Emergency Waiver As the Trump administration’s 60-day Jones Act waiver begins reshaping U.S. coastal shipping, a more fundamental issue...
From
Austin Schroeder
via
Barchart
Soybeans Rally Late as Trump/Xi Meeting Scheduled
Soybeans rallied late on Wednesday, with contracts up 6 ¼ to 16 ¾ cents at the close. The cmdtyView national average Cash Bean price was up 17 cents at $10.98. Soymeal futures were down 70 cents to $2.60, with Soy Oil futures up 90 to 137 points. The White House...
From
Austin Schroeder
via
Barchart
Wheat Posts Midweek Gains
The wheat complex is showing strength on Wednesday. Chicago SRW futures were 6 ¼ to 7 ¾ cents higher at the close. KC HRW futures posted 10 ¼ to 13 ¾ cent gains in the front months on the midweek session. MPLS spring wheat saw gains of 4 ¼ to...
From
Austin Schroeder
via
Barchart
Corn Pushes Higher into Wednesday’s Close as EPA Opens E15 for the Summer
Corn futures posted 3 to 5 ¼ cent gains across the board on Wednesday despite early session weakness. The CmdtyView national average Cash Corn price was up 4 3/4 cents to $4.25 3/4. EPA Administrator Lee Zeldin announced a waiver this morning allowing E15 sales starting May 1, following a...
The APS Information Center
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From
Reuters
via
gCaptain
Behind Closed Doors, U.S. Navy Says Hormuz Escorts Are Too Dangerous—for Now
The U.S. Navy has refused near-daily requests from the shipping industry for military escorts through the Strait of Hormuz since the start of the war on Iran, saying the risk of attacks is too high for now, according to sources familiar with the matter.
From
Austin Schroeder
via
Barchart
Wheat Posts Losses Tuesday
The wheat complex saw double digit losses across the three exchanges. Chicago SRW futures were 12 to 13 cents lower on Tuesday. KC HRW futures posted 11 cent losses across the nearbys. MPLS spring wheat closed with 11 to 12 cent losses on Tuesday. Crude oil was down $8.38 on...
From
Austin Schroeder
via
Barchart
Corn Claws Back Off Lows into Tuesday’s Close
Corn futures closed the Tuesday session with 1 to 3 cents losses across most contracts. The CmdtyView national average Cash Corn price was down 1 1/4 cents to $4.09 3/4. Crude oil was down $8.38 on the day as the US began escorting vessels through the Strait of Hormuz, though...
From
Austin Schroeder
via
Barchart
Soybeans Pop Higher on Tuesday as USDA Report Shows Very Few Changes
Soybeans closed Tuesday with 5 to 7 cent gains across most contracts on Tuesday. The cmdtyView national average Cash Bean price was up 5 3/4 cents at $11.27 1/4. Soymeal futures are up 80 cents to $1.10, with Soy Oil futures steady to 51 points lower. Crude oil was down...
From
Mike Schuler
via
gCaptain
Coast Guard Responding to Large Barge Fire in Delaware Bay
The U.S. Coast Guard and multiple partner agencies are responding to a barge fire in Delaware Bay on Tuesday after a tug reported that the vessel it was towing had caught fire....
From
Mike Schuler
via
gCaptain
U.S. Maritime Administrator Carmel Warns U.S. Must Rebuild Entire Maritime ‘System,’ Not Just Shipyards
U.S. Maritime Administrator Stephen Carmel warned Tuesday that rebuilding American maritime power will require far more than simply expanding shipyard capacity, arguing that the United States must rebuild an entire maritime ecosystem...
From
Walsh Trading
via
Barchart
Chart of the Day - July Soybeans
Beans have broken out higher, signs of long-term trend shift!
From
Bill Allen
via
Barchart
Pure Hedge - Livestock and Grain
Cattle Markets are on the Rebound After Outside Markets Start to Relax.
From
Chris Swift
via
Barchart
Shootin' the Bull about seeking profits
Due to the manipulation of slaughter, beef prices have rallied and cattle prices softened. This shift in production is brining profitability back to packers.
From
Mike Schuler
via
gCaptain
Report: U.S. Intelligence Sees Signs of Iran Mine Threat Emerging in Hormuz
U.S. intelligence agencies have detected indications that Iran may be preparing to deploy naval mines in the Strait of Hormuz shipping lanes, according to a report by CBS News citing...
From
Mike Schuler
via
gCaptain
Energy Secretary Deletes Post Claiming U.S. Navy Escorted Oil Tanker Through Strait of Hormuz
U.S. Energy Secretary Chris Wright has deleted a social media post claiming that the United States Navy successfully escorted an oil tanker through the Strait of Hormuz, raising fresh questions about whether naval convoy operations...